Desktop Metal, Inc. (NYSE:DM – Get Rating) has earned a consensus recommendation of "Hold" from the eight research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $4.46.
Several analysts recently commented on the company. Craig Hallum raised their target price on Desktop Metal to $2.50 in a report on Monday, August 15th. Benchmark dropped their target price on Desktop Metal to $6.00 in a report on Monday, August 15th. Finally, Credit Suisse Group assumed coverage on Desktop Metal in a report on Tuesday, August 16th. They set a "neutral" rating and a $2.80 target price on the stock.
Get Desktop Metal alerts:Desktop Metal Stock Down 3.9 %
Shares of DM stock opened at $2.49 on Friday. The stock's 50-day simple moving average is $2.92 and its 200-day simple moving average is $3.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.37 and a current ratio of 4.32. The firm has a market capitalization of $785.77 million, a PE ratio of -1.48 and a beta of 0.25. Desktop Metal has a fifty-two week low of $1.26 and a fifty-two week high of $9.69.
Desktop Metal (NYSE:DM – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The pipeline company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.07). The firm had revenue of $57.67 million during the quarter, compared to analyst estimates of $55.70 million. Desktop Metal had a negative net margin of 275.35% and a negative return on equity of 17.56%. Equities analysts expect that Desktop Metal will post -0.47 earnings per share for the current year.Insider Buying and Selling at Desktop Metal
In other Desktop Metal news, CEO Ric Fulop acquired 30,000 shares of the company's stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $3.09 per share, with a total value of $92,700.00. Following the completion of the acquisition, the chief executive officer now owns 20,253,999 shares in the company, valued at $62,584,856.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have acquired 41,000 shares of company stock valued at $127,960. Company insiders own 16.78% of the company's stock.
Institutional Investors Weigh In On Desktop Metal
Large investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. raised its position in shares of Desktop Metal by 73.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 8,058 shares of the pipeline company's stock valued at $41,000 after buying an additional 3,416 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Desktop Metal by 0.8% in the first quarter. Commonwealth Equity Services LLC now owns 461,492 shares of the pipeline company's stock valued at $2,187,000 after buying an additional 3,651 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Desktop Metal by 29.8% in the second quarter. Prudential Financial Inc. now owns 16,244 shares of the pipeline company's stock valued at $36,000 after buying an additional 3,730 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Desktop Metal by 27.3% in the first quarter. Janney Montgomery Scott LLC now owns 19,827 shares of the pipeline company's stock valued at $94,000 after buying an additional 4,256 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Desktop Metal by 25.5% in the second quarter. Envestnet Asset Management Inc. now owns 23,749 shares of the pipeline company's stock valued at $52,000 after buying an additional 4,832 shares during the last quarter. Hedge funds and other institutional investors own 36.62% of the company's stock.
Desktop Metal Company Profile
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Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.
Further Reading
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